PayPal Drooling for China

“Ebay failed in China because it relies on one leader who did not understand the market at all: Meg Whitman. Meg Whitman is Ebay Mao Zedong. No one dare tell her the truth. She exports her cultural revolution and it dont work in China. She is clearly a smart lady but is a no-nothing about China, taken advantage of at all turns.”  Source: Playin’ With It

This struggle for the Chinese consumer reminds me of the infant who bangs on his plate sending food flying everywhere while he screams for something else.

PayPal in China

That brings me to PayPal. eBay/PayPal are one and the same. When PayPal first went after Chinese consumers they lost to Alipay, the online payment service operated by China-based e-commerce firm Alibaba Group.  Most Chinese will pay with cash before they use a credit card and this may be where PayPal tripped up the first time.

PayPal is back. This time forming an aliance with Union Pay, with Chinese consumers holding 2.1 billion debit cards. This partnership will make it easier for Chinese consumers to make transactions outside China and pay cash.  Did PayPal learn their lesson the first time? Source: Internet Retailer

See Doing Business in China http://wp.me/pN4pY-2Y

 

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